TransMedics price target lowered to $120 from $150 at Baird

Baird analyst David Rescott lowered the firm’s price target on TransMedics (TMDX) to $120 from $150 and keeps an Outperform rating on the shares. The firm said at the company’s inaugural analyst day, management laid out several next-generation technologies slated to help the company not only achieve its 10k transplant FY28E goal, but further extend double-digit growth into the next decade. Baird said with an above-peer growth outlook, and below-peer multiple they would be buyers at current levels.